India likely to remain dependent on imported palm oil

Record prices of palm, and new government promises of payouts even if Indian prices slump, are driving the effort, which aims to lift domestic output sharply within a decade from a tiny level now.

NEW DELHI: Tractor convoys trundled thousands of oil palm seedlings to new homes on farms across South-Eastern India this month, as the world’s top importer of edible oil rolls out an ambitious US$1.5bil (RM6bil) plan to boost output.

Record prices of palm, and new government promises of payouts even if Indian prices slump, are driving the effort, which aims to lift domestic output sharply within a decade from a tiny level now.